121 Gabriel Cir #1 · Berkshire Lakes, FL 34104

$259,000

3 bd · 2.0 ba · 1,406 sqft · Condo public records · 107 Days on market

Built 1991 $599/mo HOA · 19% of rent ↓ 7% since listing

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Why this score? — see what drove the C grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +22.3/30.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• DSCR +7.1/10.0
• Schools +5.0/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

WOW WHAT A VALUE - PRICED REDUCED to $259,000 !!!! This unit is in the picturesque SAPPHIRE LAKES which is a short drive to the beaches, downtown Naples, beautiful restaurants & events . The amenities include tennis, bocce ball, shuffle board and pickle ball & (4) pools. Take a bycycle ride and store them on the rack or take a walk around the lake. There are 3 spacious bedrooms 2 baths & is the first floor end unut with a view of the lake. The interior has been totally painted just waiting for your personal touch. The unit comes AS IS unfurnished. Appliances are relatively new as well as is the washer & Dryer. COME SEE AND MAKE AN OFFER!

Key facts

• Tennis
• Pickle ball
• Shuffle board

Tags

• SHORT DRIVE TO BEACHES
• VIEW OF THE LAKE
• TENNIS
• BOCCE BALL
• SHUFFLE BOARD
• PICKLE BALL

Property features AI

Finance

• Other: Complex has 550 units; building contains 8 units
• HOA & community: Quarterly condo fee; Condo management; Gated community amenities including community pool, bike and jog path, bocce court, pickleball, shuffleboard, tennis court, and community park; Maintenance covers cable, insurance, internet/Wi‑Fi, irrigation water, legal/accounting, manager, master association fee, exterior pest control, reserves, sewer, street maintenance, and trash removal; Total annual recurring fees of $7,188; One-time fees $150

Exterior

• Parking: 1 assigned parking space; Detached 1-car carport
• Security: Gated community; Entry phone
• Utilities: Central water; Whole-house reverse osmosis water system; Central sewer; Cable available
• Home design: Residential property; Low-rise (1–3) building; 2-story end unit; Rear exposure faces east; Located in the Sapphire Lakes development (Amber sub-condo, Lot/Unit 101)
• Construction: Concrete block construction; Stucco exterior finish; Shingle roof; Built in 1991
• Exterior features: Automatic sprinkler system; Tennis court; Lake and landscaped area views; Lagoon waterfront; Irrigation tied to central and lake/canal sources; Zero lot line; Access road

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator / Refrigerator-Freezer; Built-in desk
• Bedrooms: 3 bedrooms; First-floor bedroom; Master bedroom on ground level; Split bedroom floor plan
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms; Master bathroom with shower-only
• Heating & cooling: Central electric heat; Central electric cooling
• Interior features: Cable prewire; High-speed internet available; Smoke detectors; Built-in desk in kitchen; Dining area in living room; Unfurnished
• Laundry & utility: Washer/dryer hookup; Washer and dryer included; Central reverse osmosis whole-house water system

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $259k.

Deal economics

• At list price, monthly cash flow is $425 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $259k).
• Recommended offer: $236k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Collier (suburban): math 60% / reading 56% proficiency, ranked #16 of 73 in FL (top 22%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Calusa Park Elementary School (math 59% / reading 56%, grade C+, #764 of 2,144 statewide, top 36%, 707 students, 62% FRL); Golden Gate High School (math 38% / reading 39%, grade F, #321 of 667 statewide, top 49%, 1,764 students, 53% FRL) — zoned schools at 57% FRL track the district average.
• Market conditions: Rents soft (-1.1%/yr); 436 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 3,520 units permitted in Collier County in 2024 (959 in 5+ unit buildings).
• At $3,215/mo this rent would consume 54% of the median local household income ($72k/yr) (locally 1423% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Collier County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 107 days — a 9% lower offer ($236k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $235,690 (9.0% below list)

Questions for the listing agent

1. It's been on market 107 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
7. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
8. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
9. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
10. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.24% ✓
• Cap rate: 8.26%
• Cash-on-cash: 7.04%
• DSCR: 1.31
• GRM: 6.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -9.4%
• Equity multiple: 0.67×
• Total profit: $-24,055
• Equity at exit: $38,618

10-year hold

• IRR: -5.4%
• Equity multiple: 0.70×
• Total profit: $-21,471
• Equity at exit: $22,394

Cash invested: $72,520 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 34104

• Rents YoY: -1.1%
• Active inventory: 436
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $3,215 high
• Mortgage (P&I): −$1,358
• Tax from tax record: −$50 /mo · $594/yr
• Insurance: −$108
• HOA: −$599
• Vacancy / Maint / Mgmt: −$675
• Net cashflow: $425

Break-even live

Break-even rent $2,677

Max offer price $259,000

Occupancy floor 82%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $64,750
• Closing costs: $7,770
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
153 Gabriel Cir Unit 3003 Naples, FL	2.0	2.0	1200	$4,000	$3.33	14d	1	0.05mi
120 Asaf Dr Unit 4304 Naples, FL	2.0	2.0	1350	$4,300	$3.19	14d	1	0.09mi
218 Gabriel Cir Unit 3809 Naples, FL	2.0	2.0	1200	$3,800	$3.17	14d	1	0.13mi
228 Belina Dr Unit 606 Naples, FL	2.0	2.0	1200	$4,800	$4.00	14d	1	0.17mi
159 Lady Palm Dr Naples, FL	3.0	2.0	1509	$8,000	$5.30	14d	1	0.26mi
160 Lady Palm Dr Naples, FL	3.0	2.0	1749	$3,000	$1.72	23d	1	0.26mi
7895 Sanctuary Cir Unit 117-1 Naples, FL	3.0	2.0	1742	$3,500	$2.01	14d	1	0.28mi
7892 Sanctuary Cir #2 Naples, FL	3.0	2.0	1742	$2,700	$1.55	14d	1	0.30mi
7892 Sanctuary Cir #02 Naples, FL	3.0	2.0	1742	$2,700	$1.55	23d	1	0.30mi
388 Belina Dr Unit 1104 Naples, FL	2.0	2.0	1200	$4,000	$3.33	14d	1	0.33mi
7804 Regal Heron Cir #304 Naples, FL	2.0	2.0	1304	$2,000	$1.53	14d	1	0.33mi
7839 Regal Heron Cir #202 Naples, FL	2.0	2.0	1202	$2,000	$1.66	23d	1	0.34mi
448 Gabriel Cir Unit 3310 Naples, FL	2.0	2.0	1200	$3,500	$2.92	14d	1	0.34mi
7822 Great Heron Way #106 Naples, FL	3.0	2.0	1431	$2,200	$1.54	14d	1	0.35mi
7822 Great Heron Way #106 Naples, FL	3.0	2.0	1431	$2,200	$1.54	23d	1	0.35mi
705 Luisa Ln Unit 822 Naples, FL	3.0	2.0	1639	$2,500	$1.53	14d	1	0.35mi
7818 Great Heron Way #303 Naples, FL	2.0	2.0	1304	$3,395	$2.60	14d	1	0.36mi
7835 Regal Heron Cir Naples, FL	2.0–3.0	2.0	1316	$2,250	$1.71	23d	2	0.38mi
675 Luisa Ln Unit 825 Naples, FL	3.0	2.0	1484	$2,300	$1.55	14d	1	0.38mi
515 Gabriel Cir Unit 1910 Naples, FL	2.0	2.0	1200	$4,700	$3.92	14d	1	0.40mi
7831 Regal Heron Cir Unit 1506858P Naples, FL	3.0	2.0	1420	$4,283	$3.02	14d	1	0.41mi
7725 Tara Cir Naples, FL	1.0–3.0	1.0–2.0	929	$1,808	$1.95	14d	1	0.41mi
484 Belina Dr Naples, FL	2.0	1.0	1200	$2,400	$2.00	23d	1	0.42mi
7819 Regal Heron Cir #201 Naples, FL	2.0	2.0	1600	$1,695	$1.06	14d	1	0.43mi
7819 Regal Heron Cir Unit 201 Naples, FL	3.0	2.0	1600	$1,795	$1.12	21d	1	0.43mi
7823 Regal Heron Cir #103 Naples, FL	2.0	2.0	1304	$1,995	$1.53	14d	1	0.43mi
640 Luisa Ln Unit 804-4 Naples, FL	3.0	2.0	1639	$5,600	$3.42	23d	1	0.44mi
7753 Haverhill Ct Naples, FL	2.0	2.0	1840	$2,800	$1.52	23d	1	0.45mi
7832 Meridan Ct Naples, FL	2.0	2.0	1567	$4,500	$2.87	23d	1	0.46mi
620 Luisa Ct Unit 803 Naples, FL	2.0	2.0	1200	$2,400	$2.00	14d	1	0.49mi
108 Santa Clara Dr #4 Naples, FL	2.0	2.0	974	$1,950	$2.00	14d	1	0.49mi
7790 Woodbrook Cir #2603 Naples, FL	3.0	2.5	1406	$4,500	$3.20	23d	1	0.50mi
351 Pindo Palm Dr Naples, FL	2.0	2.0	1529	$2,800	$1.83	23d	1	0.52mi
500 Robin Hood Cir #202 Naples, FL	2.0	2.0	1656	$4,000	$2.42	23d	1	0.52mi
8215 Ibis Club Dr #102 Naples, FL	2.0	2.0	1043	$1,625	$1.56	23d	1	0.53mi
465 Robin Hood Cir #101 Naples, FL	3.0	2.0	1630	$3,850	$2.36	23d	1	0.53mi
8153 Sanctuary Dr #2 Naples, FL	3.0	2.0	1668	$2,350	$1.41	14d	1	0.54mi
209 Robin Hood Cir #201 Naples, FL	2.0	2.0	1225	$3,500	$2.86	14d	1	0.55mi
230 Robin Hood Cir #102 Naples, FL	3.0	2.0	1630	$2,100	$1.29	23d	1	0.55mi
445 Robin Hood Cir #201 Naples, FL	3.0	2.0	1656	$4,000	$2.42	21d	1	0.57mi

HOA detail condo

• Monthly dues: $599 · $7,188/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-18
   days on market $259,000 Active 107 DOM
2. 2026-06-17
   days on market $259,000 Active 106 DOM
3. 2026-06-16
   days on market $259,000 Active 105 DOM
4. 2026-06-15
   days on market $259,000 Active 104 DOM
5. 2026-06-14
   days on market $259,000 Active 102 DOM
6. 2026-06-10
   days on market $259,000 Active 99 DOM
7. 2026-06-09
   days on market $259,000 Active 98 DOM
8. 2026-06-08
   days on market $259,000 Active 97 DOM
9. 2026-06-07
   days on market $259,000 Active 96 DOM
10. 2026-06-03
    days on market $259,000 Active 92 DOM
11. 2026-06-02
    days on market $259,000 Active 91 DOM
12. 2026-06-01
    days on market $259,000 Active 90 DOM
13. 2026-06-01
    remarks 654-char remark
14. 2026-06-01
    listed $259,000 Active 89 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $594 · $50/mo
• Projected year-2 tax: $2,150 · $179/mo
• Expected delta: +$1,556/yr (+$130/mo · 261.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 12% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 29 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,582
• − Mortgage interest: −$14,508
• − Property taxes: −$594
• − Insurance: −$1,295
• − Repairs & maintenance: −$3,087
• − Management: −$3,087
• − HOA: −$7,188
• − Depreciation: −$7,535
• Taxable income: $1,289
• Est. tax owed @ 24.0%: −$309
• After-tax cash flow: $4,794/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Collier
• NCES district ID: 1200330
• Math proficiency: 60% ▼ -4.00%
• Reading proficiency: 56% ▼ -2.00%
• Median HH income: $58,275
• Composite: 50.23/100
• National rank: #1892
• State rank: #16 of 73 in FL

Livability — Berkshire Lakes

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Collier County · 396,295 people
• Metro: Naples-Marco Island, FL
• Population (ZIP): 26,408
• Household income: $71,686
• Rent vs Own: 31.7% rent · 68.3% own
• Severe rent burden: 1423.0

Population outlook (Collier County) Hauer SSP2

• Today (2025): 420,858 people
• By 2030: 450,054 · +6.9%
• By 2040: 502,232 · +19.3%
• By 2050: 544,932 · +29.5%
• By 2075: 627,203 · +49.0%
• By 2100: 659,015 · +56.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (62%)
• Race & ethnicity: White 62% Hispanic / Latino 30% Two or more races 19% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 7% Puerto Rican 3% Cuban 6% Dominican 1%
• Common ancestry: Lithuanian 6% Romanian 3% Hispanic 2%
• Foreign-born: 30% · Canada, Jamaica, Dominican Republic
• Languages at home: 66% English-only · Spanish 24% French/Haitian/Cajun 5% Russian/Polish/Slavic 1%

Political lean MEDSL · Collier

• 2024 margin: Solid R (+33.1) · D 33.1% · R 66.2%
• 2008→2024 swing: -10.6pp toward R · 2008: -22.5pp · 2024: -33.1pp
• All cycles: 2024: R+33.1 2020: R+24.7 2016: R+26.0 2012: R+30.1 2008: R+22.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -252.48%
• Current HPI: 259.3498
• Rent YoY: ▼ -1.10%
• Metro: Naples-Marco Island, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

-7.2% since first listed

2 events — show timeline

• 2026-05-28 Price Changed $259,000 NAPLESMLS
• 2026-03-02 Listed $279,000 NAPLESMLS

Property tax history

+2.0%/yr

Latest (2025): $594 · +10.6% YoY. Source: county tax records.